IAE International Aero Engines and Hamilton Sundstrand, a subsidiary of United Technologies Corp. (NYSE: UTX), are pleased to announce the signing of a seven-year extension to their existing agreement for the sale and marketing of V2500 accessory maintenance services. Under the agreement, Hamilton Sundstrand will be IAE’s exclusive partner for the delivery of these services.
“We are pleased to continue our relationship with Hamilton Sundstrand and to expand on an already successful partnership,” said Bruce Blythe, IAE’s Senior Vice President, Aftermarket & Commercial. “We have a strategy of partnering with market-leading suppliers to provide a world class aftermarket service to our customers. This agreement will allow us to continue to offer our customers exceptional accessory and line replaceable unit (LRU) asset management services as an additional offering under our long-term IAE Aftermarket Services agreements.”
“Hamilton Sundstrand’s C.A.R.E.SM program maintains V2500 engine accessories to the highest standards and, combined with our asset management solutions, provides customers a safe and reliable service at the lowest overall total cost of ownership,” said Matthew Bromberg, Hamilton Sundstrand vice president and general manager, Customer Service. “We are delighted IAE has elected to extend our partnership.”
The new agreement provides for a range of aftermarket services including repair and replacement of the full accessory suite on the V2500 engine, as well as tailored asset management support through shared asset pools and on-site consignment stocks.
Hamilton Sundstrand currently manages more than 1,000 engines under its C.A.R.E.SM (Comprehensive Accessory Repair and Exchange) program, supporting more than 30 customers. Through its global network of repair vendors, Hamilton Sundstrand processes in excess of 11,000 accessory transactions per annum.
The 22,000-33,000lb of thrust V2500 is available in seven different thrust settings to power the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet. More than 6,000 V2500 engines are in service or on firm order.
The V2500 SelectOne™ build standard delivers an additional one percent fuel burn advantage, along with a corresponding reduction in CO2 emissions. It improves time-on-wing by up to 20 percent, and will be compliant with the most stringent CAEP/6 NOx standards. It entered service on schedule in October 2008.
With 2009 revenues of $5.6 billion, Hamilton Sundstrand is headquartered in Windsor Locks, Conn. Among the world’s largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney (NYSE: UTX), Rolls-Royce (RR.L.), Japanese Aero Engines Corporation and MTU Aero Engines. There are more than 5,500 V2500s in service or on firm order with more than 190 customers around the world.
